A Web3 smart contract platform, Moonbeam Network, has announced a $13 million funding initiative to drive growth in areas such as gaming and real-world asset (RWA) tokenization.
The funding package includes a $10 million innovation fund, $1.5 million in Moonbeam ecosystem grants, and $1.5 million in Moonriver grants. This initiative is part of Moonbeam’s Moonrise program, which aims to position the parachain as a top solution for integrated Web3 networks like Polkadot and Ethereum.
Moonbeam’s main objective is to attract more games to its blockchain to enhance gamer acquisition and retention. N3MUS has been chosen as the first recipient of the innovation fund to develop a gaming-focused ecosystem. The partnership between Moonbeam and N3MUS aims to merge traditional gaming with blockchain technology.
Sicco Naets, Head of Ecosystem Development at Moonbeam Foundation, highlighted the importance of supporting developers and reducing friction in blockchain technology through initiatives like the N3MUS funding. Meanwhile, Neal Peters, CEO of N3MUS, emphasized the significance of bridging the gap between traditional gaming and blockchain technology.
In addition to the innovation fund, Moonbeam is providing grants to its parachain projects and the Moonriver canary network. Ecosystem grants amounting to 4.5 million GLMR (approximately $1.5 million) will be allocated to four projects on the parachain, including StellaSwap DEX, Moonwell Lending Protocol, Prime Protocol, and Beamswap. These projects are set to launch their incentive programs on June 14.
Furthermore, efforts are underway to boost DeFi activities with a proposal for the Moonriver canary network, which could distribute 113,618 MOVR (valued at $1.5 million). DeFi projects like Beamswap and Moonwell are among the intended beneficiaries, using the funds to enhance liquidity provision on their platforms.
It is important to note that while Moonbeam has received a grant from the Polkadot Foundation for coverage within the Polkadot ecosystem, editorial independence and content control remain intact.
Overall, Moonbeam’s funding initiative marks a significant step towards advancing its ecosystem growth and establishing a strong presence in the Web3 landscape.
